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Nikkei retreats from 1-week high; Toshiba, SoftBank down
October 31, 2013 / 6:11 AM / 4 years ago

Nikkei retreats from 1-week high; Toshiba, SoftBank down

TOKYO, Oct 31 (Reuters) - Japan's Nikkei eased from a
one-week high on Thursday as investors found little comfort from
some of the corporate  earnings, with the likes of Toshiba Corp
 sliding 5.2 percent on concerns it relies heavily on
NAND chips as an earnings driver. 
    Honda Motor Co Ltd fell 1.3 percent as investors
were disappointed that it kept its full-year earnings guidance
and All Nippon Airways shed 4.7 percent after it almost
halved its annual profit forecast, but personal-care maker Kao
Corp gained 3.5 percent after robust earnings.
    Index heavyweight SoftBank Corp shed 2.9 percent
ahead of its quarterly results after the market close.
    The Nikkei fell 1.2 percent to 14,327.94, giving up
Wednesday's rise by a similar margin and breaking below its
five-day moving average of 14,328.10. The index was down 0.9
percent in October but still up 38 percent so far this year.
    The broader Topix index was down 0.9 percent at
1,194.26, with 2.82 billion shares changing hands, down from a
six-week high of 3.48 billion reached on Wednesday.
    The Bank of Japan kept monetary policy steady, encouraged by
growing signs its aggressive stimulus is working its way through
broader sectors of the economy.

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